What happens to a life insurance policy after 30 years depends entirely on the type of contract you purchased. If you hold a 30-year term life insurance policy, the contract expires at the end of the term, meaning your coverage ceases and no death benefit is paid out unless you renew at steeply higher annual rates or convert it. If you hold a permanent policy like whole life, the coverage continues for life as long as premiums are paid, or it may become fully paid-up via accumulated cash value.
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